THE Economic and Financial Crimes Commission (EFCC) has warned that the rise in internet fraud is making it increasingly difficult for law-abiding Nigerians to secure visas abroad.
EFCC Chairman, Ola Olukoyede, said the activities of fraudsters, commonly referred to as “Yahoo boys,” not only destroy the lives of those involved but also tarnish Nigeria’s global reputation.
According to him, this negative image has led to stricter travel conditions for innocent citizens.
Speaking in Port Harcourt at an event organised by the Coalition of Nigerian Youth on Security and Safety Affairs, Olukoyede—represented by Chief Superintendent CSE Coker Oyegunle—stressed that internet fraud, money laundering, and other forms of economic sabotage drain Nigeria of billions of naira annually.
These losses, he noted, deprive the nation of vital infrastructure, jobs, and opportunities.
Beyond the financial cost, he said the crimes erode international trust in Nigerians.
“Fraud is not success; it is a trap. Easy come, easy go. Many who follow the path of ‘yahoo-yahoo’ lose their freedom, reputation, and future. The law is catching up with them, and digital footprints never disappear,” Olukoyede cautioned.
He urged young people in the South-South and across the country to redirect their talents into productive ventures such as technology, entrepreneurship, agriculture, and the creative sector.
The EFCC boss reaffirmed the agency’s commitment to expanding its awareness campaigns, strengthening enforcement, and deepening collaboration with communities to curb cybercrime.
Other security agencies present also raised concerns. The National Drug Law Enforcement Agency (NDLEA), represented by Mathew Ewah, described drug abuse as one of the gravest threats to Nigerian youths, while the Nigeria Security and Civil Defence Corps (NSCDC) warned against pipeline vandalism in the South-South.
The anti-graft agency has intensified its clampdown on internet fraudsters in recent months.
In August, EFCC operatives in Lagos arrested 38 suspected fraudsters after surveillance at a hotel in Ikorodu, seizing vehicles, mobile phones, and narcotics.
Similarly, the EFCC’s Benin Zonal Directorate recently secured the conviction of 12 fraudsters, including two brothers, who were sentenced for advance fee fraud, possession of fraudulent documents, and retention of crime proceeds.